Is Staking a good idea for the crypto space?

What is Staking and How does it work?

The term Staking means locking up your crypto asset in the blockchain network to receive rewards and interest. The concept is quite similar to Banks which provide you with the annual interest for saving your money with them but in staking, you receive a chance to become a validator and receive rewards for helping the network validate transactions. The rewards in the staking program mostly are in the form of new coins from the coin supply and although there is no certain way to calculate the reward you can receive for staking but here are some of the factors that may affect:

  • The number of coins you stake.
  • Staking period.
  • The total amount of coins staked in the respective blockchain network.
  • Prevailing performance of the coin in the market.
Source: https://blockchainmedia.id/staking-versus-trading-mana-yang-lebih-baik/

Is Staking really a good idea?

Staking definitely presents itself as a win — win solution for the blockchain network and also its validators. Staking ideally is a good idea to all of you HODLers who would like to receive an additional passive income to your assets.

Source: https://www.creditdonkey.com/what-is-staking-in-crypto.html

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Nagaya Technologies

Nagaya Technologies

NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/